Bank Nifty forms Inside day pattern,EOD Analysis

Bank Nifty from past 2 session unable to close above the supply area of 17250 and closing below it from past 2 trading session also Till its not crossed probability of bank nifty moving to 16700/800 exists,Breakout only on closed above 17652. Secrets of Profitable Traders Part-II

Bank Nifty October Future Open Interest Volume is at 25.6 lakh with liquidation of 0.42 Lakh with decrease in CoC suggesting long position were closed today. Rollover cost @17334, still unable to close above rollover cost.

18000 CE OI at 6 lakh , wall of resistance @ 18000 .17500 CE liquidated 0.07 K lakh so bears started liquidating on partial basis@17500 and will be difficult to cross, high made today was 17390. 17000-18000 CE added 0.54 Lakh in OI

17000 PE OI@ 4.4 lakhs strong base @ 17000 at start of series. 16500/17000 PE liquidated 0.03 lakh so did not do any follow up from day before tomorrow addition of 1.2 lakh. If 17000 is broken and sustained we can see move towards 16500, today again 17000 was protected on closing basis.

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